Saudi Aramco Makes First Purchase Of WTI Midland -- January 24, 2025

Locator: 44756B.

Netflix: reminder on price changes. Link here.

VentureGlobal: links and headlines --

• Reuters: investors balked at VG's earnings outlook before IPO price cut; link here;
• oilprice: VG cuts IPO price range to sell more shares; link here;

Charles Kennedy, link here: Saudi oil giant Aramco buys its first US WTI Midland crude cargo.

The world’s biggest crude oil exporter, Saudi Aramco, bought this week its first cargo of U.S. WTI Midland, the crude grade which is now part of the dated Brent benchmark, S&P Global Commodity Insights told Reuters. The Saudi oil giant, which is also the world’s biggest oil company, bought the cargo in the Platts window from commodity trader Gunvor. This was Saudi Aramco’s first purchase of WTI crude in the window.

Back on June 10, 2022, it was announced that effective June, 2023, WTI Midland will join the Brent complex as assessed by Platts.

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Back to the Bakken

WTI: $74.35.

New wells:

• Sunday, January 26, 2025: 42 for the month, 42 for the quarter, 42 for the year, 
• 40574, conf, Empire North Dakota LLC, Red Horse 32 1H,
• 40224, conf, Hess, GO-Dustin Brose-LE-156-98-2932H-1,
• Saturday, January 25, 2025: 40 for the month, 40 for the quarter, 40 for the year, 
• 40454, conf, Hess, GO-Dustin Brose-15609802932H-5,
• Friday, January 24, 2025: 39 for the month, 39 for the quarter, 39 for the year, 
• 4487, conf, Grayson Mill, Wahus 12-1 1H, 

RBN Energy: E&Ps highlight their success in growing Utica shale production.

Condensate production in the Utica Shale’s volatile oil window in eastern Ohio has more than doubled over the past three years, and plans by the handful of E&Ps that focus on the super-light crude oil suggest that output will increase further this year and next. Who are these producers, why do they see such promise for condensate growth in the Utica, and how are they measuring their success? In today’s RBN blog, we continue examining rising condensate production in eastern Ohio with a look at the leading E&Ps in this space.